Cullen Frost Bankers Inc. reduced its position in shares of Barrick Gold Corp. (NYSE:ABX) by 10.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,300 shares of the company’s stock after selling 7,700 shares during the period. Cullen Frost Bankers Inc.’s holdings in Barrick Gold Corp. were worth $1,373,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of ABX. BlackRock Group LTD raised its stake in shares of Barrick Gold Corp. by 455.6% in the first quarter. BlackRock Group LTD now owns 22,778,990 shares of the company’s stock worth $309,339,000 after buying an additional 18,679,408 shares during the last quarter. Teachers Advisors Inc. purchased a new stake in shares of Barrick Gold Corp. during the first quarter worth approximately $9,869,000. TIAA CREF Investment Management LLC purchased a new stake in shares of Barrick Gold Corp. during the first quarter worth approximately $6,380,000. Ngam Advisors L.P. purchased a new stake in shares of Barrick Gold Corp. during the first quarter worth approximately $481,000. Finally, Pacad Investment Ltd. raised its stake in shares of Barrick Gold Corp. by 252.5% in the first quarter. Pacad Investment Ltd. now owns 416,078 shares of the company’s stock worth $5,650,000 after buying an additional 298,033 shares during the last quarter. 60.11% of the stock is owned by institutional investors and hedge funds.
Barrick Gold Corp. (NYSE:ABX) traded down 1.79% during midday trading on Tuesday, hitting $17.60. The company’s stock had a trading volume of 11,570,496 shares. The company’s 50 day moving average price is $18.93 and its 200 day moving average price is $18.45. The firm’s market cap is $20.51 billion. Barrick Gold Corp. has a 12 month low of $6.04 and a 12 month high of $23.47.
Barrick Gold Corp. (NYSE:ABX) last released its earnings results on Wednesday, July 27th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.01. Barrick Gold Corp. had a negative net margin of 33.33% and a positive return on equity of 4.95%. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the previous year, the business posted ($0.01) earnings per share. Barrick Gold Corp.’s revenue for the quarter was down 9.8% on a year-over-year basis. Analysts expect that Barrick Gold Corp. will post $0.69 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, August 29th. Barrick Gold Corp.’s dividend payout ratio (DPR) is currently -3.29%.
A number of analysts recently commented on the company. Citigroup Inc. assumed coverage on Barrick Gold Corp. in a research report on Tuesday, August 2nd. They issued a “buy” rating and a $29.00 target price for the company. Zacks Investment Research raised Barrick Gold Corp. from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Tuesday, July 12th. Canaccord Genuity reissued a “buy” rating and set a $34.00 price objective on shares of Barrick Gold Corp. in a report on Wednesday, August 10th. TD Securities reissued a “buy” rating and set a $26.00 price objective on shares of Barrick Gold Corp. in a report on Saturday, August 13th. Finally, Vetr lowered Barrick Gold Corp. from a “strong-buy” rating to a “buy” rating and set a $23.79 price objective for the company. in a report on Tuesday, August 9th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. Barrick Gold Corp. currently has a consensus rating of “Buy” and an average target price of $21.56.
Barrick Gold Corp. Company Profile
Barrick Gold Corporation (Barrick) is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development. The Company produces copper, principally from its Zaldivar joint venture and Lumwana mine, and holds other interests. Barricks’ segments include Cortez, Goldstrike, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Porgera, Kalgoorlie, Acacia Mining plc, Lumwana, Zaldivar and Pascua-Lama Project.
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